You've probably heard about Medicare Part D, Medicare's prescription drug plan that covers most outpatient prescription drugs. But did you know that it’s important to evaluate your plan every year? That's because your benefits can change, including your prescription drug coverage, premiums, deductibles and pharmacy benefits.
With health care costs top of mind for most people, here are four tips to help you save with a Medicare Prescription Drug Plan.
Tip 1: Ensure your selected plan works with your preferred pharmacy.
Check if your pharmacy of choice is in the plan’s preferred pharmacy network to save on the cost of your copays. Walgreens is preferred in many prescription drug plans, with copays as low as $0 when you enroll in select Medicare plans.*
Tip 2: Explore ways to lower costs at the pharmacy.
Many brand-name prescriptions have generic substitutions. Check whether your plan has a generic alternative, and then talk with your doctor to see if this would be a good option for you. If you’re using a brand-name prescription that doesn’t have a generic alternative, there may be lower-cost brand-name prescriptions used to treat the same condition. Ask your pharmacist if you have that option. Then, talk with your doctor to see if switching brands makes sense in your situation.
Tip 3: Work with your pharmacist to discuss your prescription drug needs.
Pharmacists play a pivotal role in communities, and in these times, are highly accessible resources to ask health-related questions. Walgreens pharmacists have stepped up in incredible ways to support people throughout the pandemic, whether it’s spending additional time over the phone to address questions or combining prescription drug refills to fit busy schedules and reduce trips to the pharmacy.
Tip 4: Evaluate the plan each year.
In addition to examining pharmacy options and prescription drug costs, a good place to start when considering your plan is to investigate whether a Medicare Prescription Drug Plan (PDP) or Medicare Advantage Prescription Plan with Prescription Drug coverage (MAPD) may be a good option for you. A PDP is a stand-alone plan that only covers prescription drugs. A MAPD combines Part A (hospital insurance), Part B (medical insurance) and Part D (prescription drug) into a single plan. With many options and aspects to consider, talking to an independent licensed health insurance broker will help assess your individual preferences and needs, and help find a solution that is right for you. Walgreens has teamed up with eHealth** to make it easy to get free, personalized advice with no obligation to enroll. Talk to a licensed insurance agent by calling 1-844-973-1713 TTY users 711 or visit ehealthmedicare.com/Walgreens.
*$0 copay on Tier 1 generic drugs when enrolled in select plans where Walgreens is a Preferred Pharmacy
**eHealth is a licensed health insurance broker offering plans from many insurance companies and with no affiliation with Medicare or any government agency. No commissions are paid to Walgreens. No obligation to enroll.